Coronavirus: NEC Group warns of job cuts as revenues plummet

Crufts dog show was one of the final events at the NEC Arena in March

Hundreds of jobs may be at risk at the NEC Group as the company said revenues had fallen to near-zero over the coronavirus pandemic.

The Birmingham-based firm runs five venues including the National Exhibition Centre, Resorts World Arena and International Convention Centre.

It is set to begin a consultation with its 2,300 full and part-time staff.

The group said job cuts were necessary "to ensure the longevity of the business".

Before the pandemic, it said annual revenues stood at £160m, but these had dropped to almost nothing since mid-March.

Events have been either cancelled or postponed until 2021.

Birmingham's Nightingale hospital was set up inside the National Exhibition Centre (NEC) in April

"With the current social distancing measures, the inability to access the £1.57bn culture support package and no sector specific extension to the Coronavirus Job Retention Scheme, there is increasing pressure on the group's finances," a spokesman said.

"It is with a heavy heart that as a result of this, we will lose some truly dedicated colleagues and friends that work within the group."

The consultation process with employees will begin next month.

NEC Group said it employed 829 full-time equivalent (FTE) and 1,500 permanent staff, as well as supporting 29,000 (FTE) roles in the supply chain.

Speaking in April, Chief Executive Paul Thandi said it was the largest firm in the UK events sector, and it would take "two or three years" for the business to recover.

Since then, it has been providing the NHS with room for the Birmingham Nightingale Hospital, free of charge.